Stock Market Today: Sensex, Nifty Rise The Most In Two Weeks As RIL, HUL, ICICI Bank Lead
Sensex closed up 629 points or 1.02% at 62,501.69 while Nifty was higher 178 points or 0.97% at 18,499.35.
KEY HIGHLIGHTS
Rupee Strengthened Against The U.S. Dollar
Sensex, Nifty Gain For The Second Consecutive Day
Sun Pharmaceutical Industries Q4 (YoY, Consolidated)
Sensex, Nifty Rise Nearly 1% As RIL, HUL, ICICI Bank Lead
Zee Shares Jump The Most In 10 Weeks As NCLAT Sets Aside Order For Reconsideration Of Merger With Sony
Yield On The 10-Year Bond Flat
The yield on the 10-year bond closed flat at 7.01% on Friday.
Source: Bloomberg
Rupee Strengthened Against The U.S. Dollar
The local currency appreciated by 17 paise to close at 82.57 against the greenback on Friday.
The local currency closed at 82.74 on Thursday.
Source: Bloomberg
Sensex, Nifty Gain For The Second Consecutive Day
Indian equity benchmarks saw positive day of gains as they rose nearly 1%, the most in over two weeks. While media, FMCG and I.T. sectors led the gains, utilities, power and oil and gas declined. The headline indices advanced for the second consecutive session and ended higher on a weekly basis.
Most Asian markets advanced on Friday from the progress in debt-ceiling talks and after artificial intelligence stocks drove a rally in U.S. on Thursday.
Shares rose in Japan and South Korea. Stocks were little changed in Australia while shares in mainland China recovered. Hong Kong’s market was closed for a public holiday.
Chip stocks in the Asian region extended gains into the second day as Nvidia Corp.’s bullish sales forecast continued to buoy companies with exposure to AI. Most European markets declined with Stoxx 50 Index little changed by 0.15%.
The S&P BSE Sensex Index closed up 629 points or 1.02% at 62,501.69 while the NSE Nifty 50 Index was higher 178 points or 0.97% at 18,499.35.
Reliance Industries Ltd. was the top contributor to the change in the Nifty 50 index, it added nearly 33.12 points to the index's positive change.
Additionally, Hindustan Unilever Ltd., Sun Pharmaceutical Industries Ltd., HCL Technologies Ltd., and ICICI Bank Ltd. were positively adding to the change in the Nifty 50 Index.
Whereas, HDFC Bank Ltd., HDFC Ltd., Bharti Airtel Ltd., ITC Ltd., and ONGC Ltd. were negatively contributing to the change
The broader markets indices ended higher; the S&P BSE MidCap Index was up 0.82%, whereas S&P BSE SmallCap Index was higher by 0.49%.
Sixteen out of the 19 sectors compiled by BSE advanced, while S&P BSE Utilities, S&P BSE Oil and Gas, an S&P BSE Power declined in trade.
The market breadth was skewed in the favour of the buyers. About 1,964 stocks rose 1,528 declined, and 138 remained unchanged on the BSE.
The headline indices advanced this week. Sensex logged weekly gains of 1.25%, whereas Nifty advanced 1.63%.
Last week, the Nifty snapped three weeks of gains, whereas Sensex broke two weeks of winning run to end lower. The S&P BSE Sensex Index was down 0.48%, and the NSE Nifty 50 Index was lower by 0.61%.
All sectors advanced in trade this week with Nifty Metal, Nifty Pharma and Nifty Media gaining the most.
Sun Pharmaceutical Industries Q4 (YoY, Consolidated)
Revenue up 16% at Rs 10,931 crore Vs Rs 9,447 crore (BBG estimate : Rs 10,968 crore)
Net profit of Rs 1,984 crore Vs net loss of Rs 2,277 crore (BBG estimate : Rs 1,978 crore Profit)
EBITDA up 30% to Rs 2,829 crore from Rs 2,178 crore (BBG estimate : Rs 2,993 crore Profit)
Margins at 25.9% Vs 23.1% (BBG estimate : 27.3%)
Source: Exchange filing